Memorandum Opinion
LEECH, J.:
Respondent determined deficiencies in income tax against petitioner for the calendar years and in amounts as follows:
Year Amount 1938 .............. $6,090.14 1939 .............. 239.39
The petitioner waives all its assignments of error except that respondent improperly disallowed it a deduction of $24,200.93 as a loss sustained during the taxable year 1938.
The...
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